Becoming a real estate owner: the instructions

Do you want to own a property? To settle comfortably in a quiet environment? Good news: Now is the perfect time to get started. Indeed, favorable financing conditions and a wide choice of properties are offered to candidates for purchase. The latter also have the possibility of taking advantage of any price reductions. But buying a property is not a decision to be taken lightly. To find the ideal accommodation and avoid mistakes, below are some tips to follow.

Be self-confident

According to the Ifop survey which was carried out in April 2013, owning a property is a dream that 90% of French people share. But, you have to make sure that this is the right time to invest your savings. It is therefore advisable to buy only when you feel ready to live in a home for several years. Otherwise, it is preferable to remain a tenant.

The assessment of his contribution

The higher the buyer’s contribution, the greater his chances of seeing his loan applications succeed and the less interest he will have to pay. Generally, banks require buyers to be able to pay at least 10% of the price of the accommodation (these fees are intended to cover the loan guarantee and the notary’s fees).

However, it is important to specify that even with the 10% contribution, credit requests will be refused to certain people (intermittent workers, temporary workers, individuals who have subscribed to « revolving » credits, etc.).

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Setting the budget according to needs

It is recommended to draw up your financing plan well before embarking on the search for accommodation. It should be borne in mind that in addition to the price of the property, there will be additional costs: the loan guarantee, the notary’s fees, housing and property taxes, agency fees, co-ownership, housing insurance, …

The choice of housing location is also an important parameter (proximity to shops, train stations, schools, etc.). To pay less, some people decide to settle far from urban areas; but they forget that transport costs will be added.

Although the new one costs more than the old one, it has the advantage of guaranteeing optimal thermal insulation.

Individual or agency: what to choose ?

For purchases from person to person, it takes a lot of time; indeed, you have to visit several accommodations, agree to travel, manage the paperwork, … Many sites allow you to consult the advertisements of individuals:,,, …

On the other hand, agencies guarantee both tranquility and security. Customer satisfaction is the main concern of advisors and they follow market prices and laws in real time.

Read also: 5 keys to investing in your first real estate purchase, the opinion of your expert

Visit without rushing

Future buyers must always « keep an eye out ». In order to immerse themselves in the neighborhood, they can, for example, arrive early to the meeting and chat with neighbors, shopkeepers, etc.

Above all, do not trust the appearance of the accommodation; everything must be inspected (ceilings, floors, outbuildings, etc.) and the proper functioning of appliances and installations must be ensured (toilets, boilers, electrical circuits, etc.). The seller must give all diagnostics to the buyers.

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Formulation of a reasonable offer

It is necessary to have solid arguments before approaching a negotiation. Price comparisons are available from real estate agencies and they make it possible to mark out the land.

Homes that have been on sale for more than 6 months will be overpriced and will no longer be widely tradable. On the other hand, those that require work or that are very far from transport and activity areas will open the way to more discussions.

Read also: Buying a condominium: who pays what?

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